Buy Just Dial, target price Rs 1100: Yes Securities

Yes Securities has buy call on Just Dial with a target price of Rs 1100. The current market price of Just Dial is Rs 1010.7. Time period given by analyst is Intra Day when Just Dial price can reach defined target.

Just Dial Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 6244.42 Crore) operating in Services sector.



Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 191.25 Crore, down -4.34 % from last quarter Total Income of Rs 199.92 Crore and down -29.97 % from last year same quarter Total Income of Rs 273.09 Crore. Company reported net profit after tax of Rs 33.57 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from a trendline resistance placed at Rs 1020. A sustained trade beyond this hurdle on good volumes will extend the uptrend to levels of Rs 1,100. Further, volumes were good leading up to the breakout, suggesting bullishness. RSI has also turned upwards from the 58 level, confirming strength dominant in the stock .

Promoter/FII Holdings
Promoters held 33.4 per cent stake in the company as of June 30, 2020, while FIIs held 35.4 per cent, DIIs 16 per cent and public and others 15.1 per cent.